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At Henderson Edelstein, if we see a need in your business, we will tell you and initiate a plan to implement it as efficiently and effectively as we can. Sometimes, it will involve us and at others, it will be something you can implement yourself and we needn't be involved, other times it will be outside our service offering but we will be able to refer you to someone that can assist.

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Tax Facts - Medicare Levy

The Medicare Levy is a tax payable by Australian residents to cover health care charges. It is payable on taxable income, in addition to income tax. Individuals and families on higher incomes who do not have an appropriate level of private hospital cover may have to pay the Medicare levy surcharge.

Medicare Levy is usually calculated at 2% of taxable income. A reduction in the rate is available for people on low incomes and an exemption is available for people in certain categories.
A Medicare Levy Calculator is available on the Australian Taxation Office (ATO) web site to help you work out your obligation.

MORE: See the Medicare Levy Essentials section of the ATO web site.

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